Having Work, Health, and Culture All Together to Rise, Establishing Itself as a Prime Location: 'Changwon Megacity Xi & Weave'

- When Buying a Home, Consider Proximity to Work, Natural Environment, and Other Factors Together
- 'Changwon Mega City Xi & Weave' is Close to Jinhae Advanced Industrial Research Complex and Jinhae Ru Beach Park

[Changwon Mega City Xi & Weave Night Aerial View]

The importance of residential conditions that encompass work, health, and cultural life is increasing. As the factors that consumers expect from their living spaces diversify, more people are considering the comfort of the residential environment as much as proximity to work when choosing a home.

According to a survey by the Korea Gallup Research Institute in March last year on the ‘2024 Real Estate Trends,’ ‘comfort of residential/natural environment’ accounted for 23% as a major consideration when selecting a home, up 2 percentage points from the previous year. Additionally, the same factor rose 7 percentage points year-on-year to 37% as a locational consideration for future home selection. Following the consistently high score of proximity to work (47%), a comfortable residential environment is gradually becoming more important among actual homebuyers.

In fact, complexes located near workplaces with pleasant environments such as parks are also attracting attention in subscription applications. In March this year, ‘e-Pyeonhansesang Seongseong Hosu Park,’ located in Cheonan City, Chungnam Province, recorded a high competition rate of 17.49 to 1 with 19,898 applications submitted for 1,138 units (excluding special supply) in the first-priority subscription. The Upseong Urban Development Zone, where the complex is located, is near Cheonan 2nd, 3rd, and 4th General Industrial Complexes and the Samsung SDI Cheonan plant, and the complex is highly favored for its pleasant residential location right in front of Seongseong Hosu Park.

As the importance of the residential environment increases, the value of areas encompassing industrial complexes and parks is expected to rise further. For example, ‘Yongji The Sharp Lake Park’ (occupied since November 2017) located in Seongsan-gu, Changwon City, Gyeongnam Province, is close to the Changwon National Industrial Complex as well as Yongji Park and Changwon Sports Park General Stadium. According to the Ministry of Land, Infrastructure and Transport’s actual transaction prices, an 84㎡ unit in this complex was traded for 1.05 billion KRW in February this year, setting the highest price for the same area in Gyeongnam over the past year.

A real estate expert said, “As the factors people expect from their living spaces diversify, when purchasing a home, they are comprehensively considering not only the distance to their workplace but also nearby parks and cultural elements to enjoy.” He added, “Changwon Mega City Xi & Weave is an apartment complex located in an area equipped with jobs, natural environment, cultural elements, and development plans, and it is expected to become the flagship complex of the region.”

The Doosan Construction consortium plans to launch ‘Changwon Mega City Xi & Weave’ through the Daeya Station redevelopment project in Yeojwa-dong, Jinhae-gu, Changwon in March.

The complex offers easy commuting to the Changwon National Industrial Complex, a major employment hub in Changwon. Currently, it takes about 20 minutes via Yanggok IC located south of the complex, but once the Yanggok Intersection improvement project around the complex is completed, it will be possible to quickly reach Changwon city, including the industrial complex, within about 10 minutes. The Yanggok Intersection improvement project is underway with a target completion by the end of 2026, and upon completion, smooth access to and from Wanan to Sinchon Square and Jinhae direction will be possible.

Additionally, it is expected to be a representative residential area supporting the Jinhae Advanced Industrial Research Complex, considered the largest development asset in Changwon. According to Changwon City Hall, the Jinhae Advanced Industrial Research Complex will host five innovative research institutes including the Korea Institute of Materials Science and the Agency for Defense Development. Once completed, it is expected to transform into a ‘Changwon-style Silicon Valley,’ generating approximately 1.6149 trillion KRW in production inducement effects and creating over 10,000 jobs.

Residents can also enjoy a pleasant living environment. First, the Jinhae Ru Beach Park, a representative marine tourist destination in Changwon, is nearby, allowing easy access to various cultural performances and events. The Jinhae Ru Beach Park (Jinhae Ru Waterfront Development) is scheduled for completion in 2026, expanding spectator-friendly waterfront spaces and improving the coastal trail that offers beautiful sea views.

Moreover, Taebaek-dong Sports Park is located to the north of the complex, providing various leisure activities, and parks such as Jehwangsan, Jehwangsan Park, Jinhae Public Stadium, Jinhae Port, and Jinhae Ru Beach Park are close by.

Meanwhile, Changwon Mega City Xi & Weave will be developed on a scale of 2,638 units across 17 buildings from basement level 4 to 37 floors above ground, with 2,041 units ranging from 54 to 102㎡ available for general sale. The model house will be located in Jungang-dong, Seongsan-gu, Changwon Special City, Gyeongsangnam-do, and move-in is scheduled for December 2028.

This content was produced with the assistance of AI translation services.